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Mumbai: Zamil
Industrial has become the first Saudi Arabian multi-national
corporation to establish a fully-owned subsidiary in India to
exploit the booming air-conditioners and home products segment, a
company official said.
The company has acquired full stake in Advantec Coils and renamed
it Zamil Air Conditioners India Pvt Ltd (ZACI) to launch its
comprehensive range of residential, commercial and industrial
air-conditioners, including the Turbomiser series chillers.
Headquartered in Dammam, Saudi Arabia, Zamil Industrial had
acquired 30 percent stake in Advantec Coil in February 2008, and
recently bought the remaining 70 percent stake in the joint
venture.
"The acquisition is a result of the company's strategic direction
of value play to leverage multiple investments... We are confident
of making big strides in the Indian market," says Zamil Industrial
chief operating officer Osama Al-Bunyan.
In the next three-five years, the company will target to get
Rs.1,500 crore worth of business, or 10 percent of the Indian
air-conditioner market.
"We will now be able to offer world-class technology at extremely
competitive prices, revolutionising the air-conditioner market not
just in India but also the SAARC Region," says Dinesh Vijapurkar,
director, ZACI, which is headquartered in New Delhi.
Presently, Zamil Industrial's operations are spread across 55
countries and products marketed in over 90 countries.
ZACI will now have two fully-integrated manufacturing facilities
in Nalagarh in Himachal Pradesh with a total installed capacity of
1.20 million units per annum.
ZACI will also get direct access to the parent company's
air-conditioner arm, Zamil Air Conditioners, Saudi Arabia, and
Clima Tech/Geoclima, Italy.
Besides India, Zamil Industrial has manufacturing facilities in
Saudi Arabia, UAE, Egypt, Vietnam and Italy.
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